Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$196,513+3.0% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 13% have cut their price
Income needed to buy, per year$42,600About 0.6× the local median income ($73,147): affordable for a typical household
Days on market58 daysSlower than a year ago: buyers have time to negotiate
The typical home in Lea County, NM is worth $196,513, up 3.0% from a year ago. That is well below what local incomes have historically supported: fair value is about $291,200, so the area is 32.5% undervalued. It is a balanced market: homes take about 58 days to sell, listings are up 46% from a year ago, 13% of listings have had a price cut. A household needs about $42,600 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,147. Typical rent is $1,469 a month. In the latest IRS figures, 243 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$196,513
Change in 1 year
+3.0%
Overvalued %
−32.5%
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Fair home value
$291,200
Change in 5 years
−17.3%
Home value to income
2.7×
Monthly mortgage payment (20% down)
$1,065
Income needed to afford it
$42,600
Property tax rate
0.48%
Rent and investing
Typical rent
$1,469
Price-to-rent ratio
11.1×
HUD Fair Market Rent, 2 bedrooms
$1,327
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Gross rental yield
8.97%
Cap rate (estimate)
5.83%
Market activity
Listings vs a year ago
+46.4%
Days on market
58
Listings with a price cut
13.3%
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Homes for sale
82
Pending sales per 100 listings
88
Asking price per sq ft
$164
People and jobs
Median household income
$73,147
Population change (1 year)
+0.4%
Unemployment rate
6.9%
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Population
74,749
Income adjusted for cost of living
$85,154
Net moves in (IRS)
−243
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
5.0
FEMA hazard risk score (0 to 100)
86.0
Unhealthy air days a year
8
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Flood risk score
88.3
Wildfire risk score
98.0
Walkability (1 to 20)
7.5
Road, rail and air noise
54 dB
Questions people ask
Is Lea County, NM overvalued?
Home prices in Lea County, NM are well below what local incomes have historically supported: fair value is about $291,200, so the area is 32.5% undervalued.
Is Lea County, NM a buyer's or seller's market?
Lea County, NM is a balanced market: homes take about 58 days to sell, listings are up 46% from a year ago, 13% of listings have had a price cut.
Are home prices going down in Lea County, NM?
Home values in Lea County, NM are up 3.0% over the last year.
How much do you need to earn to buy a home in Lea County, NM?
A household needs about $42,600 a year to afford the typical home in Lea County, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,147.